The Kingdom awarded 10 projects worth a combined SAR 8.57 bn in February, up from January’s SAR 6.59 bn, the Saudi Contractors Authority said in its monthly Contracting Sector Overview report (pdf). That’s a 30% m-o-m increase, according to our calculations.

Oil is at the top: The oil and gas sector dominated in terms of total project value with a single SAR 5.63 bn accelerated carbon capture and storage project in the Eastern Province by Saudi Aramco, in partnership with multinational chemicals company Linde and US-based energy tech company SLB.

Power and water contracts followed, totaling SAR 2.79 bn across four projects. Saudi WaterPartnership Company awarded two projects in Makkah — for Phases 1 and 2 of the Ras Mohaisan Independent Water Project — valued at SAR 2.25 bn. Meanwhile, Saudi Electricity Company awarded Al Jillah and Al Rain overhead transmission line projects in Riyadh, valued at a combined SAR 536.3 mn.

ALSO- The Industry and Mineral Resources Ministry awarded the largest number of projects, with five contracts worth SAR 161.25 mn.

March outlook: More than 50 new projects are expected to be awarded this month, with half focused on building and construction. Key players expected to award contracts include Aramco, Neom, the Public Investment Fund, and the Diriyah Gate Development Authority.

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